Growing up as a Forex baby you may have thought to yourself that your analysis is a big part of whether you make money trading Forex but that is not entirely true, unfortunately for some, your actual trading is responsible for a green P&L at the end of the month.
According to research done in 2016 by Finance Feed there were 1,231 brokers on the MetaTrader 4 platform, fairly old and some fairly new. This list included only those of retail Forex brokers (non-institutional).
What makes a good Forex broker?
Loss. Not love, unfortunately, that has nothing to do with your Forex trading. Loss is a difficult thing for many traders out there and we need to get comfortable talking about it right? Loss…Loss…Loss say it with me Loss…Loss…Loss.
Revenge trading isn’t always a conscious thing because many people are aware that this is a terrible habit to have. Revenge trading can be something you don’t even mean to do. A lot of traders have found themselves in trades that they can’t justify and these usually come after a loss or a string losses.
Candlesticks were first used in Japan by rice traders, the use of candlesticks charts then became popular in other markets, including Forex trading. Today, Japanese candlesticks are one of the mainstays of technical analysis in markets, why is their use so popular?
You may think that keeping a journal is for teenagers, what if I told you that it can make you a better trader? That means greater profitability! Now, that would make anyone sit up and take notice.
Trading journals are important in highlighting the improvements required in your trading as well as what you are succeeding at.
Is there room for Gut-feel and intuition in trading? My answer might upset a lot of people and I wouldn’t blame them because trading is very multi-faceted that way. Many traders have plenty more experience than you or I, some will agree and others disagree with you are about to read.
The Forex journey is very lonely, and as much as you would love to trade with your friends and grow with your friends in the industry (which is possible), it just isn’t the reality often. Especially if you seek to do things the same as your friends always without an element of your own character or personality. It will often be hard to trust your judgment and grow as a profitable trader.
Break Even conversations are similar to addressing the elephant in the room. No one wants to talk about it because it’s so subjective and everyone thinks they have it figured out. A Break-even trade happens in 2 ways.
What is OPEC?
The Organization of the Petroleum Exporting Countries is an intergovernmental organization represented by 13 countries in the world. Founded on the 14th of September 1960 in Bagdad, as a way to unify and co-ordinate petroleum policies to secure fair and stable prices for producer and consumer.
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